Home Real Estate Part I – The Ukiah Daily Journal

Part I – The Ukiah Daily Journal

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When Realtors explain the importance of title insurance to prospective homebuyers, many homebuyers understandably assume that title insurance is like other insurance—a policy for which they pay ongoing premiums that will protect them in some way against problems that could occur in the future. However, title insurance does the opposite. For a one-time fee, title insurance protects you against problems that may have occurred in the past (to prevent them from coming back to cause problems in the future).

Without title insurance, you cannot be sure that your claim on a property has priority over someone else’s, which is of vital importance to both you and your lender. Title companies research the whole history of ownership on a property to ferret out fraud and ascertain whether someone else has a legitimate claim. This is no simple task, especially when you consider that records can be filed under various headings, such as legal description, the…

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